1st midterm sample 1

1st midterm sample 1 - Midterm 1, Version 1; Page 1 of 7...

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Midterm 1, Version 1; Page 1 of 7 Economics 101 Professor Hertel Sample Midterm February 15, 2007 Student Name: ____________________________ID# ______________ Discussion # _______ DO NOT BEGIN WORKING UNTIL YOU ARE TOLD TO DO SO. READ THESE INSTRUCTIONS FIRST. You have 70 minutes to complete the exam, which consists of 25 multiple-choice questions. The exam is worth 100 points. Each question is worth 4 points. Please answer the questions on your coding sheet with a #2 pencil. Be sure to fill in the coding sheet carefully and accurately. How to fill in the coding sheet : 1. Print your last name, first name, and middle initial in the spaces marked "Last Name," "First Name" and "MI." Fill in the corresponding bubbles below. 2. Print your student identification number in the spaces marked "Identification Number." Fill in the bubbles. 3. Write the discussion section number for which you are officially registered under "Special Codes" spaces ABC , and fill in the bubbles. Discussion sections are as follows: Yasushi Asako Chen-Yu Li Jiao Shi 329 W 9:55am 334 F 8:50am 330 W 8:50am 331 W 8:50am 339 F 11:00am 333 F 12:05pm 332 F 12:05pm 341 R 12:05pm 344 W 11:00am 342 F 1:20pm 346 F 9:55am 345 F 9:55am Woo Hyun Chang Alexander Yuskavage 336 R 3:30pm 328 W 9:55am 340 R 12:05pm 338 F 11:00am 343 F 1:20pm 4. Finally, after filling in your section code, please put the exam version in the “Special Codes” spaces . You will end up with a 4-digit “Special Codes” number – a three digit section number followed by a one digit exam number. If you have a question during the exam, stay seated and please raise your hand. To show respect to your fellow students, please stay seated in your exam seat for the full 70 minutes. All exams and answer sheets must be turned in as you leave the exam. I will post results on the website according to the last 4 digits of your ID. If there are duplicates in these last four digits, e-mail your TA who will have your score. The exam will be discussed in section next week. Relax. Stop, take a deep breath, and think carefully before you answer any questions. Good luck!
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Midterm 1, Version 1; Page 2 of 7 1) The local market for cab rides is characterized by supply q S = - 40 + 10p and demand q D = 100 – 8p. The municipal government wants to fight traffic congestion and noise pollution, and institutes a quota for cab rides of 20 rides. How high is the quota rent? a) $2 b) $4 c) $1 d) $3.50 e) $7 2) Scientists have found that plummeting towards earth at high speed reduces the risk of heart disease. What is likely to happen in the market for bungee jumps? a) The equilibrium price of bungee jumps decreases, equilibrium quantity increases. b)
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1st midterm sample 1 - Midterm 1, Version 1; Page 1 of 7...

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